American Hotel Income Properties REIT LP announces October 2013 cash distribution
VANCOUVER, Oct. 21, 2013 /PRNewswire/ - American Hotel Income Properties REIT LP ("AHIP") (Toronto Stock Exchange: HOT.UN; OTCQX: AHOTF) announced today the cash distribution of Cdn$0.075 per limited partnership unit ("Unit") of AHIP for the period of October 1, 2013 to October 31, 2013, which is equivalent to Cdn$0.90 per Unit on an annualized basis. The distribution will be paid on November 15, 2013 to unitholders of record at the close of business on October 31, 2013. There are currently 10,405,000 Units issued and outstanding.
The policy of AHIP is to pay cash distributions on or about the 15th day of each month to the unitholders of record on the last business day of the preceding month.
About American Hotel Income Properties REIT LP
AHIP is a limited partnership formed under the Limited Partnership Act (Ontario) to invest in hotel real estate properties located substantially in the United States and engaged primarily in the railroad employee accommodation, transportation, and contract-focused lodging sectors. AHIP's long-term objectives are to: (i) generate stable and growing cash distributions from hotel properties substantially in the US; (ii) enhance the value of its assets and maximize the long-term value of the hotel properties through active management; and (iii) expand its asset base and increase its Adjusted Funds From Operations ("AFFO") per Unit through an accretive acquisition program, participation in strategic development opportunities and improvements to its properties through targeted value-added capital expenditure programs.
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SOURCE American Hotel Income Properties REIT LP